GP and UN firing 25% of staff

Sep 15, 2020,13:20 PM

Tough times today.... tough times tomorrow?  

I hope things turn around for these stories brands.

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Let hope for better times

 By: Weems@8 : September 15th, 2020-13:38
Two top level watch brands. My wish to own at least one UN watch is huge. But only me is not enough to save them. What i see is the AD’s do not drop prices, so a deal is far away.

The Kering statement that accompanied this news is even more troubling.

 By: brandon1 : September 15th, 2020-13:46
“The sudden sales downturn caused by the pandemic, and thereafter, the watch sector’s timid recovery, have led to the decision to scale down these manufacturing capabilities,” the two brands said in a statement. Patrick Pruniaux, CEO of the two brands sin... 

+1 [nt]

 By: Passionata_george : September 15th, 2020-14:43

its literally tale of two cities on Main st. A lot of smaller places closing down while handful keep getting bigger. There were a lot of-

 By: redcorals : September 15th, 2020-13:56
mom+pop shops on a busy downtown st here which have folded giving into the relentless poaching by megastores and commercial builders - sort of the last nail in the coffin. The charm of old city being lost. I guess its the same story in Switzerland - Didn'... 

There are some very hot

 By: watch-er : September 15th, 2020-14:22
sectors of the watch market at the moment, but most of the industry is suffering. IMO it is the relentless drive to wearable devices which has not affected the SS sports models from some brands yet but hit the dress watch segment very hard. Some independe... 

Very sad and worrying

 By: chikai168 : September 15th, 2020-15:06
I really hope they recover. I love their designs and we really need more brands in the industry who dare to be a bit different! BW, Chi Kai

All they need is to create some hype watches...sorry to say.

 By: Clueless_Collector : September 15th, 2020-15:23
Sad but true and unfortunately this is harder than we think. The demand is so narrow nowadays to the small number of brands/models. I'm seeing a consolidation of brands like all other businesses and then M&As etc. Hey, who knows these 2 major brands and c... 

I hate this, so many layoffs in US too, many retailers just

 By: Ted-Lo : September 15th, 2020-17:21
Went “belly up,” Century 21, luxury discount retailer, filed Chapter 7, yes 7, that’s liquidation, not re-org, they are not coming back. 4K jobs lost.

I think a number of these brands were over there skis

 By: EinPa : September 15th, 2020-17:52
If you look at the pricing over the past 20 Years, I think the Luxury space got crowded and I would not be surprised to see some culling. The audience for $20,000 plus mechanical watches was more than serviced by too many brands. I think the ones that fai...